Rents for apartments in Kent have remained stable over the past month, however, they have increased slightly by 1.6% compared to October 2019.
Currently, median rents in Kent are $1,275 for a one-bedroom apartment and $1,631 for a two-bedroom apartment, according to apartmentlist.com. Kent’s year-over-year rent growth tops the state average which fell 4%, as well as the national average which fell 1.4%.
Throughout the past year, rent increases have occurred not only in the City of Kent, but throughout the Seattle-Tacoma metro area. Of the 10 largest cities for which apartmentlist.com has data in the metropolitan area, six of them saw their prices increase.
Lakewood has the cheapest rents in the Seattle-Tacoma metro area, with a two-bedroom median of $1,382; Additionally, the city has seen rent growth of 0.4% over the past month, the highest in the metro area.
Over the past year, Seattle proper has seen the biggest rent drop in the area, with a 12.2% decline. The two middle bedrooms there cost $1,849, while the one-bedroom rooms cost $1,483.
Redmond has the most expensive rents of the largest Seattle-area cities, with a two-bedroom median of $2,131; rents are down 2.3% over the past month and 6.9% over the past year.
While rents have risen slightly in Kent, other major cities across the country have seen rents rise faster. Compared to most major cities in the country, Kent is less affordable for renters.
Washington as a whole saw a 4% year-over-year decline, while other cities in the state saw rents rise significantly. For example, rents rose 4.8% in Spokane and 3.9% in Vancouver.
Kent’s median two-bedroom rent of $1,631 is above the national average of $1,101. Nationally, rents have fallen 1.4% over the past year compared to the 1.6% rise in Kent.
Renters will generally find higher prices in Kent than in most major cities. For example, Spokane has a median two-bedroom rent of $1,051, while Kent is more than one and a half times that price.